India coffee down on low demand

MUMBAI, Nov 23 Coffee prices in India fell at
this week's auction on lack of buying by exporters and on
selective purchases by local traders, auctioneer J. Thomas & Co
said in a statement on Friday.
Arabica plantation PB, A and AA grade prices fell by 100-450
per 50 kg as compared with the previous sale.
Robusta parchment coffee on offer received no enquiry.
Coffee at this time of the year is generally left over from
the previous and usually fetches lower prices due to inferior
quality.
"Below average quality coffees were heavily discounted," the
statement said.
Coffee exports from India recovered 4 percent to 18,990
tonnes from October to Nov. 1, after falling 8.6 percent in the
previous crop year.
In value terms, coffee exports rose $56.48 million from
$53.49 million during the same period.
India, the world's fifth biggest coffee producer, accounts
for 4.5 percent of the global output, and exports 70-80 percent
of its produce. Italy, Russia and Germany are the top three
buyers of Indian coffee.
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GRADE PRICES
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Season (2011-12)
ARABICA PLANTATION
PB 8,995
A 8,550 - 8,580
AA 8,650
B 7,500 - 7,650
C 7,450 - 7,600
BBB 5,800
ARABICA CHERRY
C 7,150
BBB 5,900
ROBUSTA CHERRY
PB 7,250 - 7,500
C 6,650 - 7,200
BBB 7,000
(Reporting by Deepak Sharma; Editing by Anupama Dwivedi)